GRAWE Bulgaria

What GRAWE Bulgaria does

GRAWE Bulgaria Zhivotozastrahovane EAD (ГРАВЕ България Животозастраховане ЕАД) is a Bulgarian-licensed insurance company and wholly-owned subsidiary of Austria's GRAWE Group (Grazer Wechselseitige Versicherung), established in 2000 under FSC Permission No. 99 and headquartered in Sofia at bul. Tsar Boris III No. 1. The company operates a dual-entity structure combining the local life insurance EAD with the Grazer Wechselseitige Versicherung AG Bulgaria Branch, and sells both life insurance and general (non-life) insurance products through a proprietary multi-tier agency network spanning 20+ sales offices across Bulgarian cities including Sofia, Plovdiv, Varna, Burgas, Veliko Tarnovo, Gabrovo, Vratsa, Lovech, Goce Delchev, Bansko, and others.

The product portfolio is organized across two lines. The life insurance line includes GRAWE Life (basic life protection), GRAWE Comfort 20+ (premium life and health), GRAWE Start (children's savings), GRAWE Save, GRAWE Family, and GRAWE Capital (currency savings-insurance programs), GRAWE RISK Life (high-risk occupations), and two investment-linked offerings — GRAWE Smart Invest 4U and GRAWE Invest 4U, which combine life insurance with investment fund exposure. The general insurance line comprises GRAWE Protect (home contents), GRAWE House/Apartment (building/condominium), GRAWE Business (SME), and GRAWE Private-Express (express home protection). Distribution is delivered through owned offices, insurance broker partnerships (10+ Bulgarian brokers), GRAWE Group's broader CEE subsidiary network, and reinsurance support from Munich Re, Hannover Re, Swiss Re, and Partner Re.

GRAWE Bulgaria generates revenue through recurring insurance premiums and policy fees, with pricing determined per-policy via individual advisory consultation rather than published online. The primary customer segment is Bulgarian individuals and families seeking life protection, long-term savings, and investment-linked products, supplemented by a smaller SME segment for property and business coverage. The company holds an estimated 19% share of Bulgaria's life insurance market (2021) and was recognized as the leader in the mixed life insurance segment, and achieved the highest production growth among all GRAWE Group entities in 2024. GRAWE Bulgaria is now actively positioning for Bulgaria's January 1, 2026 euro adoption with dual-currency guidance for existing policyholders. Technology infrastructure is minimal and externally hosted — IT runs on a computer center in Graz and a Sofia file server under GDPR-compliant controls, with no proprietary platform or AI/ML capabilities disclosed.

Name

GRAWE Bulgaria

Legal name

ГРАВЕ България Животозастраховане ЕАД

Website

https://grawe.bg

Company type

Private

Founded year

2000

Operating status

Operating

Headcount range

11–50 employees

Short description

GRAWE Bulgaria is a Sofia-based life and non-life insurance company, wholly owned by Austria's GRAWE Group. It serves Bulgarian individuals, families, and SMEs through 20+ proprietary sales offices, distributing life, savings, investment-linked, and property insurance products via an advisory-led agency model.

Ownership category

akta.pro rank

Product category

Life and General Insurance

NAICS

Direct Life Insurance Carriers (524113), Direct Life, Health, and Medical Insurance Carriers (52411), Insurance Agencies and Brokerages (524210)

SIC

Life Insurance (6311), Insurance Agents, Brokers & Service (6411)

akta.pro primary industry

Whole Life Insurance (FSAIABAA)

akta.pro secondary industries

Simplified Issue Whole Life / UL Insurance (FSAIABAH), Participating (Dividend) Whole Life Insurance (FSAIABAI), Retirement Benefits & Social Security/Medicare Planning (FSAEABAI)

Keywords

• Life insurance
• Non-life insurance
• Savings insurance
• Investment-linked insurance
• Property insurance

Headquarters

HQ city

Sofia

HQ country

Bulgaria

HQ region

Europe

Offices12 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure, Others

Revenue model

1. Life Insurance Premiums: GRAWE Bulgaria generates revenue primarily through life insurance premiums, including pure risk policies, savings-based life insurance (спестовно-осигурителни програми), investment-linked life insurance, and unit-linked products. Premiums are collected on regular schedules (monthly, annual) per policy terms.
2. Property/Non-Life Insurance Premiums: The company also generates revenue from non-life insurance products including home/property insurance (домашно имущество), building insurance (сграда/етажна собственост), and business insurance (малък и среден бизнес), as well as express property coverage.
3. Currency Savings-Insurance Programs: GRAWE Bulgaria offers currency-denominated savings-insurance programs (валутни спестовно-осигурителни програми) where clients accumulate capital while maintaining insurance protection. Revenue is generated through premiums and contribution payments over the contract term.
4. Investment-Linked Insurance: Products such as GRAWE Smart Invest 4U and GRAWE Invest 4U combine investment in first-class investment funds with life insurance, offering clients professional fund management combined with protection. These investment-linked products generate ongoing management and premium revenue.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels7 records

Core offering

GRAWE Bulgaria sells life insurance (protection, savings, and investment-linked products such as GRAWE Life, GRAWE Comfort 20+, GRAWE Start, GRAWE Save, GRAWE Family, GRAWE Capital, GRAWE RISK Life, GRAWE Smart Invest 4U, GRAWE Invest 4U) and general/non-life insurance (GRAWE Protect home contents, GRAWE House/Apartment building, GRAWE Business for SMEs, GRAWE Private-Express express home). Products are distributed primarily through a proprietary multi-level agency sales network with over 20 offices across Bulgaria and via licensed insurance brokers.

Product overview

GRAWE Bulgaria is an insurance company organized into two main product lines: life insurance and general (non-life) insurance. The life insurance portfolio includes GRAWE Life (basic life protection), GRAWE Comfort 20+ (premium life and health protection), GRAWE Start (child savings insurance), GRAWE Save (savings with currency accumulation), GRAWE Family (joint savings-insurance for two persons), GRAWE Capital (single-premium savings), GRAWE RISK Life (high-risk occupation coverage), and two investment-oriented products — GRAWE Smart Invest 4U (intelligent investment with a three-phase strategy linked to investment funds) and GRAWE Invest 4U (investment with insurance). The general insurance line covers GRAWE Protect (home contents), GRAWE House/Apartment (building/condominium), GRAWE Business (SMEs), and GRAWE Private-Express (express home insurance). Together these products address individual and family financial protection, savings, investment, and property coverage needs.

Differentiator

Problem solved

Functional benefit

Brands

• GRAWE Life: Life protection insurance product for individuals and families.
• GRAWE Comfort 20+
• GRAWE Start
• GRAWE Save
• GRAWE Family
• GRAWE Capital
• GRAWE RISK Life
• GRAWE Smart Invest 4U
• GRAWE Invest 4U
• GRAWE Protect
• GRAWE House/Apartment
• GRAWE Business
• GRAWE Private-Express

Products and services

• GRAWE Life Life insurance product providing protection for individuals and their loved ones in case of death or insured events.
• GRAWE Comfort 20+ Premium life and health protection insurance with comprehensive coverage for policyholders aged 20 and above.
• GRAWE Start Child savings and insurance program ensuring a successful start and secure financial future for children.
• GRAWE Save Savings insurance combining life protection with high currency-denominated savings accumulation.
• GRAWE Family Currency savings and insurance program designed for two individuals as a joint coverage solution.
• GRAWE Capital Single-premium savings insurance product providing a secure and simple form of capital accumulation.
• GRAWE RISK Life Life insurance and protection specifically designed for individuals in high-risk occupations.
• GRAWE Smart Invest 4U Intelligent investment product combining life insurance with investment fund access under a three-phase investment strategy.
• GRAWE Invest 4U Investment product for individual investors seeking capital growth combined with life insurance protection.
• GRAWE Protect Home contents insurance covering household property and belongings.
• GRAWE House/Apartment Building and condominium ownership insurance covering structural property.
• GRAWE Business Insurance product tailored for small and medium-sized businesses, including property and general business coverage.
• GRAWE Private-Express Express home protection insurance offering rapid coverage for residential property.

Quantifiable outcome

• 12th and 13th consecutive Recommender Award wins (2024, 2025) — highest net promoter score among national insurance companies in FMVÖ survey of 8,000 Austrian clients
• +4 more outcomes

Named customers1 record

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

18 partnerships are on record, tiered minor and core.

• University of National and World Economy (UNSS)minorStrategic or Co-development Partner · 2 December 2025GRAWE Bulgaria signed a memorandum of cooperation with UNSS on December 2, 2025. The partnership involves practical training for students in Insurance and Social Work, university career events, and joint educational initiatives to promote insurance literacy and career opportunities in the sector.
• Munich RecoreStrategic or Co-development PartnerGRAWE Group has reinsurance contracts with Munich Re, one of the world's leading reinsurers, to provide additional guarantees for policyholders and to share and manage large risks.
• Hannover RecoreStrategic or Co-development PartnerGRAWE Group partners with Hannover Re, a global reinsurance giant, for risk sharing and reinsurance coverage that enhances the company's capacity to honor policyholder claims.
• Swiss RecoreStrategic or Co-development PartnerGRAWE Group has reinsurance agreements with Swiss Re, a leading global reinsurance provider, providing additional financial security for clients.
• Partner RecoreStrategic or Co-development PartnerGRAWE Group maintains reinsurance contracts with Partner Re for risk management and reinsurance protection across its insurance portfolio.
• Evrolife Bulgaria EOODminorChannel Partner/ Reseller/ DistributorInternational and Bulgarian insurance broker distributing GRAWE insurance products to end consumers.
• Together OODminorChannel Partner/ Reseller/ DistributorBulgarian insurance broker distributing GRAWE insurance products.
• Global Life OODminorChannel Partner/ Reseller/ DistributorBulgarian insurance broker distributing GRAWE life and investment insurance products.
• Green Master OODminorChannel Partner/ Reseller/ DistributorBulgarian insurance broker distributing GRAWE insurance products.
• VFP Bulgaria EOODminorChannel Partner/ Reseller/ DistributorBulgarian insurance broker distributing GRAWE insurance products.
• Musala Insurance Broker OODminorChannel Partner/ Reseller/ DistributorBulgarian insurance broker distributing GRAWE insurance products.
• Karoll Standard EOODminorChannel Partner/ Reseller/ DistributorBulgarian insurance broker distributing GRAWE insurance products.
• ZBK Balkan ADminorChannel Partner/ Reseller/ DistributorBulgarian insurance broker distributing GRAWE insurance products.
• Kolhida ZB OODminorChannel Partner/ Reseller/ DistributorBulgarian insurance broker distributing GRAWE insurance products.
• Big Broker EOODminorChannel Partner/ Reseller/ DistributorBulgarian insurance broker distributing GRAWE insurance products.
• Netins Insurance Brokers OODminorChannel Partner/ Reseller/ DistributorBulgarian insurance broker distributing GRAWE insurance products.
• Austrian Association for Financial Marketing (FMVÖ)minorOthersFMVÖ conducts annual Recommender Award surveys among 8,000 bank and insurance clients in Austria. GRAWE has been recognized 18 times in 19 years through this independent award program.
• Bulgarian Financial Supervision Commission (FSC)coreOthersGRAWE Bulgaria operates under the regulatory supervision of the Bulgarian Financial Supervision Commission (FSC / КФН), which oversees the company's insurance activities in Bulgaria.

Scale indicators13 records

Recent moves11 records

Expansion highlights5 records

Direct peers

• DZI (Dŭrzhavno Zastrakhovatelno Druzhestvo): Bulgaria's largest state-rooted insurer offering life and non-life products through a comparable multi-office agency network. DZI is the most direct local comparable to GRAWE Bulgaria in product mix, distribution style, and target customer segments.
• Groupama Bulgaria: Bulgarian arm of French mutual insurer Groupama, active in life and non-life lines. Comparable to GRAWE Bulgaria due to mutual parent structure and similar target customer base in Bulgaria.
• UNIQA Bulgaria: Austrian-origin competitor operating in Bulgaria with a similar mix of life, health, and property products. UNIQA is GRAWE's closest Austrian CEE peer, sharing parent heritage, mutual-adjacent culture, and multi-channel agency distribution.
• Bulstrad Life Vienna Insurance Group: Bulgarian life insurer under Vienna Insurance Group offering life and investment-linked products via agency and broker channels. Directly comparable to GRAWE Bulgaria in life segment focus and CEE ownership profile.
• Generali Bulgaria: Bulgarian subsidiary of Italian insurer Generali, providing life and non-life products through agency and broker networks. Comparable to GRAWE Bulgaria in international parent ownership, product breadth, and agency-led distribution.

Emerging players

• MetLife Bulgaria: International life insurance specialist focused on protection and unit-linked products in Bulgaria. Comparable to GRAWE Bulgaria specifically in the investment-linked life and savings-insurance segments.

Broad incumbents

• Allianz Bulgaria: Subsidiary of global insurance leader Allianz, offering life and non-life products in Bulgaria with a broader portfolio and larger marketing budget. A relevant scale comparable, though its product breadth extends well beyond GRAWE Bulgaria's focus.

Regional players

• Euroins Insurance Group (Bulgaria): Bulgarian-rooted insurer with strong non-life/motor presence but growing life segment. Comparable as a competitor in overlapping property and SME business lines rather than as a life-insurance pure play.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/grawe-bulgaria

Revenue estimate

Valuation estimate

Number of profiles

Profiles13 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about GRAWE Bulgaria